UEFA, Mounting Concern About A.C. Milan’s Murky Finances
ByA.C. Milan is European soccer royalty, its global popularity driven not just by its 18 Italian league championships but also by its seven European titles. Those glories seem long ago these days — the last of Milan’s European Cups was won in 2007 — and now a financial crisis threatens to delay the club’s return to the top even longer.
European soccer’s governing body, UEFA, is concerned about Milan’s financial viability under its Chinese owner, and without a resolution Milan could face sanctions that include a ban from the continental competition it once ruled. Facing mounting concern over its violations of so-called financial fair play rules, created to keep clubs from spending more than they bring in, Milan’s management is trying to persuade regulators that its new Chinese owner, Li Yonghong, is capable of stopping the team’s bleeding millions of euros a year…
UEFA, Mounting Concern About A.C. Milan’s Murky Finances
